Short term loans, a last resort for many cash strapped folks

Many people would argue against taking out short term loans for an emergency because of the interest rates on some of these types of loans. Unfortunately, the reality of life is that sometimes this maybe you’re only option. Maybe you’re living pay check to pay check, and your car breaks down and you don’t have anybody else you can count on – and you must get to work – and public transportation is not an option. Maybe you’re a single mother with no family or friends that can help you and this is your last resort. Don’t beat yourself up – it’s just not worth it. Do what you need to get back on your feet, take a high interest loan and pay it back immediately. Then, decide on how to best avoid these situations in the near future.

It’s not an ideal situation but if you have to take out a payday type loan once in your life, maybe it’s the wakeup call you need to realize the importance of smart financial planning. Regardless, you haven’t been responsible and have yet to create an emergency stash – so this is a wakeup call to you.

In general, you should have roughly 6 months living expenses saved up in your emergency stash. Some would argue this is not enough – it really depends on where you live and what you anticipate in the form of potential emergencies in the near future. In today’s economy, you never know when you might get the pink slip. Because some industries and professions are far more difficult to find employment, such as higher management types of positions, it may take a year or more for these types of professionals to find a new job – they should a year or more worth of living expenses saved up in their emergency fund.

Only after you’ve created an emergency fund should you move on to saving and investing and aggressively paying down any debt you may have accumulated over the years. Some may argue that you should pay down debt first, and it’s a valid argument depending on the interest rates of that debt, however, if you run into another emergency you may be forced to incur debt at an even higher rate, so you should cater your decision based upon that type of information – would it be more costly for you to take on additional debt in case of an emergency or create a stash and earn interest on that money.

This is a guest article by Mark.

Frugal Pet Tips to save you money

If you’re like most pet owners, your pet is one of the most important things in your life. In fact, many pet owners think of their pet as one of the children or family members and they take very good care of them to ensure their health, safety and comfort. Even if you are on a strict budget, you can take good care of your pet with the following frugal pet tips that you can use.

The most important thing you can do for your pet is to feed them high quality food. This may seem like the opposite of being frugal because the high quality pet food is typically more expensive than other pet foods with lower quality. But there are several reasons why spending a couple extra dollars on good pet food is better than skimping on the food. For one thing, your pet will fill up faster on the upscale food. Much of the cheaper pet foods use fillers. Fillers are products like corn and other products that simply “fluff” up the food to make it look like more than it really is. But in addition to making it look bigger, it simply does not fill up your pet. They may get full faster, but they will be hungry more often and they will want to eat more. But with the better food, your pet will get their fill and they won’t be hungry more often than they should be.

Another reason to feed your pet high quality food is because it is good for them. With some lower quality foods, you risk the chance of your pet getting urinary tract infections and other health problems. Taking them to the vet to solve these problems can get rather costly. But by choosing the better foods, you can cut down on vet appointments other than their normal checkups.

Speaking of pet food, another tip for frugal pet ownership is to buy your pet food in bulk. When you compare prices between getting a 50 pound bag of dog food versus a 10 pound bag of the same brand, you will notice that there is a huge amount of savings. In some cases, you could have paid for a 50 pound bag of pet food after buying just a couple of the smaller bags over time. Just be sure to store it in a cool dry place away from where your pet can get into it while you’re gone.

Vet costs can be astronomical for some problems that pets often have. But you can help cut down on vet visits by keeping your pet active. Do you like to play with your pet? If not, you could be negatively affecting their health. Take time each day to play fetch with them or keep them active. Take your dog for walks and play with your cat by using toys, balls of yarn or something else that will keep them busy. By doing this, you will help them stay healthy which will reduce the number of times you will have to visit the veterinarian.

Getting discount pet supplies is another way for pet owners to be frugal. You don’t have to spend extra money on fancy-shaped bowls or other things for your pet. They will eat and drink out of any container that you give them. You can also save money by getting some inexpensive pillows and throws to make them a comfortable and cozy bed rather than spending a lot of money on something that your bed will not appreciate.

Using these tips for frugality will help you save money on caring for your pet, but they can also make your pet happy and loved. Your pet doesn’t need the best of everything. They just want their basic needs attended to and to know that you love them.

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5 Ways to Save on Motorcycle Insurance

Riding a motorcycle is fun. Most people who own one ride for enjoyment, not as a means of transportation. The thrill of cruising down the highway, with the wind streaming past you, is something that can’t be equaled within the confines of a car or truck. It’s a sense of freedom. If you operate your motorcycle on public roads you will need to carry adequate insurance. It’s the law. Following are a few tips on how to save on motorcycle insurance.

Motorcycle Safety Course

Because a motorcycle is inherently dangerous, due to the fact that there are only two wheels and the machine must be balanced, getting a break on insurance costs can be difficult. One way to get a cheaper rate is by taking a motorcycle safety course. In some states, a course of this type is required in order to get a motorcycle operator’s license. There are a number of reasons to take a safety course, even if it’s not required by law. One of them is that operating your bike during the safety course will allow you to become familiar with its controls. You will get to know where they are and how the different controls affect the bike’s operation. It will also help you develop a sense of confidence that will come in handy when you take to the open road. By the time you receive your certificate, you’ll instinctively know the difference between grabbing the brake instead of the clutch if you need to stop quickly. Going through a motorcycle safety course will almost certainly help lower your insurance rates.

Seasonal Coverage for Seasonal Riders

Living in an area of the United States that has snow and cold weather for part of the year usually means that motorcyclists put their bikes away. Part of the reason for doing so is because riding a two-wheeled vehicle on ice and snow is conducive to falling over–although some riders do ride whenever the roads are clear, despite the cold. However, most riders store their bikes during the winter and insurance companies reward them by only charging seasonal rates. Seasonal rates vary according to your individual policy, but in most cases it goes by quarters–either 3 or 6 month layoffs apply. During this period, you should still maintain comprehensive coverage in case the bike is stolen.

Prices Vary According to Model

Motorcycle insurance rates vary quite a bit depending on the type of motorcycle you’re trying to insure. It also depends on how old the bike is. Sports bikes cost more to insure than a standard bike. New bikes cost more to insure than older bikes, unless they’re antiques. Touring bikes cost a lot to insure, but that’s because they’re more expensive machines. If you customize your bike, you can also expect to pay more for insurance. Hand in hand with the cost of insurance based on motorcycle type is your age. Because the majority of sports bike riders are young and relatively inexperienced, insurance rates are comparatively high. As you get older, you probably aren’t prone to taking the same chances as when you were younger, and the added experience that comes with decades of riding experience may translate into reduced insurance rates.

Keep Your Bike in a Garage

If you’re fortunate enough to own a garage where you can park your motorcycle at night, your insurance rates will be lower than if you have to park on the street. The reason for this is that there is a lot better chance of the bike being stolen if you park on the street. Your rates may be even lower if the garage is attached to house, and further discounts may apply if the home has a security system. You may even be eligible for reduce rates if you carry a chain with you and lock your bike up wherever you go. Be sure and let your insurance agent know of your personalized security precautions so you can enjoy the lower rates.

Shop for the Best Price

As with any other type of insurance, you should shop for the best price on motorcycle insurance. If you already have an insurance agent you should contact them and tell them you’re shopping for a good rate on motorcycle insurance. Make some calls to other agencies ahead of time and get a quote for comparison. You can do the same by going online and getting a few quotes. This will allow you to determine if your present agency is giving you their best rates. Be sure and ask for discounts, including a discount if you own more than one motorcycle. You may also be eligible for a discount if you’ve been with the company for a long time, or if you have other types of policies in effect, such as home, life, or auto insurance.

Guest post from Sydney Sommers. Sydney writes for MotorcycleInsurance.com.

How to Save on Gap Insurance

Owning a new car is something that is taken in stride by some people, while others consider it the dream of a lifetime to have a brand new vehicle that belongs to them. Either way, it is rare to be able to pay cash for that vehicle, so most people must borrow the money. An important thing to consider when you buy a new car is that its value goes down as soon as you drive it off the lot. If you only put down a little bit of money, then the car isn’t worth what you owe on it from the moment you sign the papers. If you get into an accident or the car is stolen before you make up the difference, you won’t get enough from your insurance company to pay for the car. As a result, most lenders insist that you carry gap insurance to ensure they receive repayment of the loan. Following are a few tips on how to save on gap insurance.

Gap Insurance–What Is It?

The GAP in gap insurance stands for Guaranteed Auto Protection. It is a type of insurance that will protect the lender against loss if your new car is damaged or stolen during the time in which you owe more than the vehicle is actually worth. Gap insurance covers this ‘gap.’ It’s important to carry gap insurance because not only does your vehicle lose value as soon as you drive it off the dealer’s lot, it continues to diminish in value for the next few months. In most cases, your vehicle is worth up to 30% less than you paid for it after a few months have passed–which makes gap insurance a good thing to have.

Upside Down

Owing more on your vehicle than it is worth is called being upside down on the loan. Gap insurance will make up the difference if something happens to the car before you catch up. Paying ahead on your loan so you can reach the point where you owe less than the car is worth would allow you to drop your gap insurance coverage, thereby saving a few bucks.

Shop Around

Until you’re able to pay your loan down, you should carry gap insurance–in fact, most lenders require you to have gap coverage so they’ll be protected. As with buying any type of insurance, purchasing a gap insurance policy can be as easy as calling the first insurance company listed in the phone book and paying for a policy. However, it would be best to shop around for the best deal you can get before actually agreeing on gap coverage. The best place to start is to go online and search the Internet for insurance companies that offer gap coverage. Visit their websites and fill out their online forms to get a quote. Once you’ve done this with a few companies, you should then start calling brick and mortar insurance companies, using the online quotes for comparison. Gap insurance is generally not too expensive, but it never hurts to save a little money by getting the best rate possible. After you’ve considered all the quotes you’ve received, both from online and the more traditional insurance carriers, you should visit your present insurer, if you already do business with one. If you’ve been with the same company for a long time, and have multiple policies with them they will probably be willing and able to meet or beat the best quote you received. Most insurance companies reward longtime customer with significant discounts for loyalty.

Gap Insurance through a Dealer

Although gap insurance is usually reasonably priced, you may not be able to find a carrier that will offer you a good rate. In that event you have another option–buying a stand-alone policy through the car dealer. The downside to this is that a stand-alone policy is usually expensive, so even if the quotes from the insurance companies seem high to you, they may still be the most reasonably priced option. Some car dealers will tell you that you need to buy gap insurance immediately, before you drive the car off the lot in order to be fully protected–which isn’t entirely true. While it’s true that you won’t be protected in the interim, you can buy the car, drive it home, and then contact an insurance company and buy a gap policy, which will probably be cheaper than if you bought it through the dealer.

Guest post from Sasha Bell. Sasha writes for CarInsurance.net.

How to Save on Home Health Care

Although most assisted living facilities do their best to make the people who are living there comfortable, and able to enjoy their lives, it should come as no surprise that most people would prefer to be in their own homes. Fortunately, we live in a society where that is increasingly more likely to happen. The home health care industry is thriving, partly because it’s cheaper, in most cases, to hire someone to come into your home rather than endure the cost of living in a facility. That doesn’t mean it isn’t expensive, only that it’s less costly than institutionalized living. Here are a few tips on how to save on home health care.

Do it Yourself

Probably the most cost effective method of paying for home health care is to do it yourself. If someone in your family has a nursing background, you can approach them for tips on caring for someone who can’t do things for themselves anymore. Of course, the patient’s needs are the most important consideration, so you shouldn’t try and do things you’re distinctly unqualified for. The most important thing you can do is realize when you’ve reached your limit. Taking care of someone on a continuous basis can wear you out, so it’s important to take a break now and then in order to keep from getting burned out. The patient will suffer if you’re in over your head, so know when to call in the professionals.

Research

When it comes time to seek professional assistance with an elderly or infirm person, you should look for a qualified home health care agency. Although it’s important to get qualified help, you should realize that the most expensive agency isn’t necessarily the best one. Seek the advice of your family and friends. Ask people who have been in a similar situation which agency they would recommend. You should also ask your doctor if they can recommend a good home health care agency. They will know the patient’s needs and will be familiar with all the agencies in the area. Make appointments with each of the agencies that have been recommended so you can get a feel for the professionalism of the staff. Sit down with your family and friends and go over the pros and cons of each agency, and then make a decision on which home health care agency would be best able to take care of your loved one at a reasonable rate.

Internet Research

A good source of information is the Internet. We are fortunate to live in an age where access to information is almost unlimited. If you or a loved one has a computer at home, you’re only a few mouse clicks away from an incredible amount of information regarding at-home care. If you don’t have a computer at home, a visit to your local library will accomplish the same purpose. Once you’re on the Internet, type a phrase such as ‘at-home health care,’ or ‘home health care services’ into your search engine. You will be rewarded with more than a few websites that you can visit in order to find out what options are available to you. One website that may contain valuable information is www.eldercare.gov. By going over the information contained on this website, as well as other websites devoted to home health care, you may be able to find a good home health care agency that will provide services at a reasonable price.

Medicare

Medicare is a program of the federal government designed to help defer medical expenses of people who are in need, but can’t afford to pay for it themselves. It can be helpful to people who are receiving home health care, but only under certain circumstances. In order to qualify for home health care benefits under Medicare you must be under a doctor’s care, and receive written orders from them to receive specified in-home care. Personal care, such as bathing, and other non-medical care isn’t generally considered to be a medical necessity and is usually excluded from qualification for Medicare payments.

Help From the State

Most states have government funded programs available to assist in alleviating the cost of home health care. This is another area in which doing research on the Internet can help you locate help for your home health care needs. Type in something along the lines of ‘agency on aging,’ along with your state’s name, into your search engine, and numerous websites will come up that contain information on home health care within your particular state.

Guest post from Sandy Morgan. Sandy writes for NursingHomes.org.